Do's and Don't s of Insurance

Do’s & Don’t s for Insurance. 1) Read the contract notes when received after committing to an insurance cover. Possibilities are there, that even after taking all precautions before buying the insurance product, some exclusions are made to the risks covered. 2) Keep the policy in force by paying the premium regularly. your claim will be rejected if you have not paid the premium. 3) Inform the insurance company about any changes in your address, in the nature and composition of assets covered, etc... These issues crop up in the case of business assets and movable assets like vehicles. When you acquire a second-hand asset, the risk is more: you have to make sure the title is transferred into your name. 4) Always source the insurance products from the reputed companies which have a good name in the market. New insurers tend to incline towards more business and profit, not the payment of the claims under their policies.